LINCOLN, Neb., Oct. 4, 2021 /PRNewswire/ -- Ameritas Life Insurance Corp. announces the acquisition of BlueStar Retirement Services, Inc., effective September 30, 2021. Terms of the agreement are not disclosed.
Founded in 1991, BlueStar is a full-service recordkeeper and third-party administrator headquartered in Florida. BlueStar specializes in open architecture retirement plans built on a proprietary high-tech and high-service delivery model. In addition to traditional 401(k) plans, BlueStar is one of the industry leading providers of MEPs. They currently serve about 75,000 participants and administer over $4 billion in plan assets.
"This is an exciting time for the Ameritas retirement plans division," said Jim Kais, Ameritas senior vice president and head of retirement plans. "Integrating BlueStar's capabilities with our own will offer advisors a well-resourced service and technology enabled open-architecture platform. We're deepening our expertise in specialty markets like the pooled plan marketplace. This is especially important as this market is seeing significant growth and few providers have robust experience or capabilities in this space."
"Ameritas and BlueStar share a commitment to excellent customer service," said Bill Lester, Ameritas president and chief executive officer. "Bringing us together creates opportunities to serve more people, drive growth and continue building the momentum in our retirement plans business."
BlueStar will operate as a subsidiary of Ameritas Life Insurance Corp. The BlueStar and Ameritas sales and service teams will begin collaborating immediately to ensure existing customers experience no disruptions.
"We've reached a major milestone in the BlueStar journey," said Tim Werner, founder and president of BlueStar. "Our focus has been to deliver sharp, smart and transparent services to our advisors and partners. By joining Ameritas retirement plans, our collective models will deliver the solution stack and service excellence we're both committed to providing."
Ameritas is a marketing name for Ameritas Mutual Holding Company and its affiliated subsidiary companies, including Ameritas Life Insurance Corp. and Ameritas Life Insurance Corp. of New York. Founded in 1887, Ameritas offers a wide range of insurance and financial products and services to individuals, families and businesses. These products and services include life insurance; annuities; individual disability income insurance; group dental, vision and hearing care insurance; retirement plans; investments; asset management; and public finance. Securities offered through affiliate Ameritas Investment Company LLC., member FINRA/SIPC and investment advisory services offered through the business name of Ameritas Advisory Services. For more information, visit ameritas.com.
About BlueStar Retirement Services
BlueStar is an integrated recordkeeper and third-party administrator to defined contribution and defined benefit plans, with corporate offices in Ponte Vedra, FL. With almost 20 years of multiple employer plan experience, BlueStar is a nationally recognized expert for PEO and association MEPs. BlueStar is a service-first organization that leverages its proprietary technology solutions to deliver an exceptional client and participant experience. For more information, visit bluestarretirement.com.
Ameritas Life Insurance Corp.